North America Holds the Highest Share in the 3D Printing Metals Market

Bangalore, India: With its recently published study “3D Printing Metals Market: Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022”, Infoholic forecasts that the global market for 3D printing metals will continue to increase owing to the increased exposure of different end-user areas such as aerospace & defense, automotive, consumer products, etc. in the global economy. 3D printing metals are mostly used for rapid prototyping, jigs, and fixtures for aerospace & OEM manufacturers. Metal 3D printing has gained popularity in the past 2 years due to better available metal sintering technology, i.e., Direct Metal Laser Sintering (DMLS). Materials such as titanium, aluminum, steel, and alloys are mainly used for part manufacturing.
The increased usage for mass production and tooling operations by using different metals such as titanium and steel in aerospace and automotive industries is boosting the demand for 3D printing metal materials. Expiration of old existing patents along with upcoming advanced technological solutions is expanding its market in the global economy. Further, increasing market penetration in developing Asian countries would lead the market toward robust growth opportunities. This trend is expected to continue during the forecast period 2016–2022 to further increase the 3D printing metals market at a CAGR of 26.4% and reach a market value of $691.0 million by 2022.
Currently, North America is dominating the 3D printing metals market due to increasing adoption of 3D printing in manufacturing assemblies. Also, decrease in production time and cost variables are adding to the popularity among part manufacturers, which are driving the demand for 3D printing metals in developed countries. North America is followed by Europe and Asia Pacific, which have the advantage of developed economy and social awareness among the people. The key parameters for the dominance of North America in the 3D printing metals market are the high literacy rate in the population base and increasing manufacturing basis. The growth rate in Asia Pacific is expected to be exponentially high during the forecast period while underdeveloped countries are expected to witness higher penetration giving a boost to the 3D printing metal materials market.
The aerospace & defense segment, being the most conventional segment known for using 3D printed customized parts, has higher market share than healthcare and others (consumer goods, electronics, construction, etc.) with most of the demand volume coming from the aerospace industry. The increased demand for tooling, machining, and rapid prototyping of metals as well as metal polymer mix is adding characteristic agility toward functional part manufacturing. This has led to rapid growth of commodity as well as precious metal segments. Dedicated alloys have relatively smaller market portion by value, although the adoption is expected to increase exponentially over the years, generating much higher revenues for 3D printing metals in future.
“The demand for 3D printing metals is almost more than 31% of the total materials used in the additive manufacturing industry. The consumption for customized part manufacturing and design flexibility makes it to be utilized in the fast-changing economy structures and enable them to grow rapidly. Growth in population base, along with changing OEM, healthcare, and aerospace industry needs, shall drive the growth of the 3D printing metals market in the coming years.” – Satya Shiwani, Senior Research Analyst
Key insights of the report
• The global 3D printing metals market has been analyzed based on metal type
o Precious Metals
o Commodity Metals
o Alloys
o Others
• The study constitutes a classification based on end-users
o Aerospace & Defense
o Automotive
o Healthcare
o Consumer Products
o Others
• Industry outlook: market trends and drivers, restraints, and opportunities
About Infoholic Research: Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche markets in ICT and Chemicals & Materials domain. Founded in 2014, we are headquartered in Bangalore, India with an office in US and consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies.

About Infoholic Research: Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche markets in ICT and Chemicals & Materials domain. Founded in 2014, we are headquartered in Bangalore, India with an office in US and consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies.

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This release was published on openPR.